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voluntary repossession
sillysambo
Posts: 21 Forumite
I know this is a bankruptcy site but can anyone give me advice on the following if i voluntarily repossess my house which has a mortgage and secured loan do i have to go bankrupt can i not wait to see what the shortfall will be there will definantely be one and in the mean time why the mortgage company is trying to sell it what will the secured loan company do to us can they take us to court etc or do they have to also wait until the house is sold i just dont know what to do for the best i have only little unsecured debt i know when there is a shortfall it becomes unsecured i was hoping i could save and do a settlement anyone got any advice i would be really grateful ive rung payplan and they haelped a little but still dont know what to do for best i have got a rented house move in over the weekend.
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